Sport Media Group - Trading Update/Progress of the Strategic Review
RNS Number : 1606C
Sport Media Group PLC
28 August 2008
Sport Media Group plc
('Sport Media', 'the Company' or 'the Group')
Trading Update and progress of the Strategic Review
The Board of Sport Media Group plc is pleased to announce that, subject to
audit, the pre-exceptional pre-tax profits for the Group to the year ended 31st
July 2008 have, as previously indicated, exceeded £6m. Despite the
well-publicised issues
surrounding national daily newspapers, the Board is optimistic for the Group's
prospects for the year to July 2009. The Company recently appointed Murray Morse
to be the Editor-in-Chief of Sport Newspapers, and since his arrival in late
July the Company
has seen some encouraging responses to the changes he has made. The Board looks
forward to reporting on progress when the Company publishes its annual results
in November.
In June of this year, the Company announced that the Chairman, Simon Hume
-Kendall, wished to relinquish the Chairmanship of the Group. David Bailey, who
joined the Board in March and has a broad experience in business, corporate
finance and investor
related issues, will become Chairman with immediate effect, and Simon will
remain a non-executive Director. The Board would like to express its gratitude
for Simon's leadership and is very pleased that he has agreed to remain on the
Board.
Further information:
Sport Media Group plc
Andrew Fickling, Chief Executive Officer Tel: + 44 (0) 161 236 4466
Andrew Fletcher, Chief Financial Officer Tel: + 44 (0) 20 8507 6920
Daniel Stewart & Company plc
Simon Leathers/Tessa Smith Tel: + 44 (0) 20 7776 6550
Abchurch Communications
Chris Lane/Gareth Mead Tel: + 44 (0) 20 7398 7710
This information is provided by RNS
The company news service from the London Stock Exchange
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